Weekend News: Global Entry of Indian Pharmaceutical Industries
After the relaxing weekend we are back again! Oh! It seems lot has happened in Indian pharmaceutical sectors and it is ready to create a stir in the global market. Check this out and beat your Monday blues.
1. Zydus Cadila recieves FDA approval for carboplatin injection
Indian pharmaceutical company Zydus Cadila received marketing approval from US Food and Drug Association (FDA) for its carboplatin injection, 10mg/ml in 5ml, 15ml and 45ml used for cancer treatment in American market. Since the inception of the filing process in 2003-04 fiscal, the company already have more than 100 approvals and has filed over 280 Abbreviated new drug applications (ANDAs) so far.
2. Sun Pharma entry into Japan market
India’s Sun Pharma marked its significant presence in Japan (World’s second largest drug market after US) by acquiring Novartis’ 14 brands for $293 million in Japan. These drugs have a combined annual revenues of $160 million known for the treatment of medical conditions in diverse therapeutic areas.
Dilip Shanghvi, managing director of Sun Pharma, said, “Japan is a market of strategic interest for us. This acquisition marks Sun Pharma’s foray into the Japanese prescription market and provides us an opportunity to build a larger product portfolio in the future.”
3. Sun Pharma alliance with AstraZeneca for anti-diabetic drugs
Another news from Sun Pharma as it has entered into an alliance with the British-Swedish multinational pharmaceutical company AstraZeneca for the promotion and distribution of the latest generation anti-diabetes drug dapagliflozin under the brand name “Oxra”. In addition to this Sun Pharma is currently seeking regulatory approval from Drug Controller General of India for promotion and distribution of combination dapagliflozin with metformin under brand name “Oxramet”. In a country of approximately 69.2 million diabetic patients this collaboration could project the drug dapagliflozin forward in the treatment of Type 2 diabetes in India.
4. Jubilant Life Sciences’ US arm get upto $22.6 million in an acquisition
Jubilant Life Sciences’ US arm’s (in which company has an indirect investment) acquisition of a drug development firm fetched the company up to $22.6 million. Jubilant Innovation USA will receive “an upfront payment of USD 4.6 million and contingent payments of up to USD 18 million based on the achievement of certain predetermined clinical and regulatory milestones from its 10 per cent interest as a limited partner in one of the venture funds specialized in seeding and investing in early stage drug discovery firms“, Jubilant Life Sciences said in a Bombay Stock Exchange (BSE) filing.
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